Business Loan from Enterprise Bank & Trust Given to Beauty Salons Company

An SBA loan from Enterprise Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Groton, Massachusetts business owner got a $25,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Groton, Massachusetts was able to borrow $25,000 from Enterprise Bank & Trust. The SBA made the loan possible by guaranteeing $12,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
GROTON, MA 01450

SBA Loan Lender

ENTERPRISE BANK & TRUST
222 MERRIMACK ST
LOWELL, MA 01852

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

12/16/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 11 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Enterprise Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Business Credit Evaluation

Banks in Lowell, Massachusetts

SBA Participating Banks in Massachusetts